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Reasonable cost of tax preparation?

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  • Reasonable cost of tax preparation?

    Hiring a CPA this year to help with our taxes. Curious what folks think a "reasonable" charge is for the service? Previously I have done our taxes myself - this is the first year of outsourcing.

    Basic return details

    - Dual physician couple

    - Married filing separately

    - Moved states in July (so two state returns in addition to federal return)

    - Schedule D/ Form 8949



  • #2
    Be prepared to get ripped off.


    • #3
      There's really nothing in there that makes things complicated. Depending on what exactly your Schedule D/Form 8949 is for, it's basically just data entry. I suspect you'll be surprised at what it'll cost you.


      • #4
        Whatever TurboTax charges.


        • #5
          When we sold a house bought a house moved had a kidand went from 1099 to w-2 I used an accountant who charged $800. (My doctor boss’ accountant) I felt that was pretty high. The next year for inexplicable reasons it was even higher. TurboTax ever since.


          • #6
            $149.21 Turbo Tax Fed and two state returns.

            Why are you filing separately? I would let TT guide you to the filing status.

            No mention of student loans or standard vs itemized deductions. I would let TT guide you as well. No bells or whistles. You can get any questions answered on your own or in the TT questions. This setup is very repetitive. Not sure why you want to spend money, it is non-deductible.


            • #7
              You didn't mention if you are W2 or 1099 or K1. If dual W2, I would also recommend TT since you're already comfortable with self-prep. If this is the 1st year with any significant IC income or moving to partnership position, I'd recommend a tax pro. This is our minimum fee schedule, but it includes year-round planning, not just tax prep. While I'm not sure it's apples to apples with what you're looking for, it may give you some perspective.
              Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087